Time tracking software for project profitability analysis
AssessTEAM project portfolio management tool collects invested employee time and compares them to the project budget showing you comprehensive profitability analysis reports in real-time.
With enterprise project portfolio management software, you can…
- Seamlessly collect time investment on projects from your team in the office or remote.
- Identify risks and bottlenecks before they affect your bottom line
- Compare project budget to costs for profitability analysis in real-time
- Deliver actionable reporting to project managers
- Track employee profitability to compute a fair remuneration for your team.
- Identity a product mix that delivers maximum profits
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Project time investment analysis
An effective PPM tool can anticipate profit potential for specific projects, project types, and teams.
With AssessTEAM PPM software, you’ll be the first to know when projects are at risk or employees need guidance. We deliver powerful business intelligence dashboards that combine employee competency information with project margin metrics.
Simple time tracking software
Identify opportunities
The days of complicated expensive processing and tracking of project time investment are now a thing of the past. AssessTEAM timesheet app enhances your visibility of risks through actionable business intelligence reports, our timesheet app lets your employees put in time invested even while they are on the move. AssessTEAM seamlessly collates project time investment and fixed costs to compare against project budgets. Alerts go out in real-time to ensure remedial action can be taken quickly and opportunities to optimize are not missed.
Targets missed?
Remedy the causes of decreasing profit margins
When the amount of time allocated to a project is not clearly defined and measured, the project is at a risk of running over schedule and missing important deadlines. This means a loss in revenue for your business and a negative result for all parties involved. Time management is one of the most critical aspects of successful project management. Project time tracking software is the best way to measure the amount of time a team member, and the combined team as a whole, spends on any specified project. A project time tracking tool is a great resource to have and is very useful for helping you to determine whether or not an activity or task is completed by the target deadline. It’s also a useful tool for planning similar projects in the future and a valuable resource for estimating the amount of time needed to complete a specific project. When a project is effectively designed and properly managed with clearly defined and measured goals, the greater the chance the project will meet target deadlines. AssessTEAM project management hours tracking tools help you do just that.
Find opportunities
Evolve your offering to maximize profits
Overall company profitability is based on all the projects that are successfully executed. When you are unsure which of these projects generates profits and which causes losses, you may be putting your business in financial jeopardy. AssessTEAM project portfolio management system enables you to prioritize resources on the projects that are most profitable for your company. Companies using AssessTEAM have improved profitability by over 25% by modifying their product mix to prioritize project types that deliver maximum profitability.
Encourage excellence
Employee profitability tracking using big data
The AssessTEAM project time tracking app provides in-depth details on how well your employees are performing and where they need to improve, resulting in a positive trend towards reaching clearly defined company objectives and goals. Employee performance metrics ensure that work is performed in a timely and correct manner based on project specifications to deliver concrete value to the business. By reviewing project effort investment in real time, you are able to reward employees who are performing higher, and address issues with those who are not performing their best. AssessTEAM helps you to establish clear goals and objectives for every employee within your organization to ensure job expectations are clearly established from the start.
Promote transparency to prevent budget overruns
Data-driven decisions to improve margins
Reporting information in AssessTEAM is designed to deliver simple to understand facts that aid in decision making. Top management can review projects that are doing great to find a recipe that helps teams do better at their jobs, at-risk projects can be caught early and reasons for slippage can be investigated quickly. AssessTEAM project portfolio management solution helps you find problems before they affect your profit margins, project managers get weekly reports to help them stay on the course and make corrections quickly as needed. Detailed reporting at the team and employee level help you in removing bias to appreciate employees that matter most to your organization’s bottom line.
Frequently Asked Questions
What is project portfolio management?
How do I know if I need project portfolio management?
What is project portfolio management?
Project portfolio management involves tracking the project budget and comparing this against investment in employee time and fixed expenses. AssessTEAM enables the evaluation of teams on this very important metric, this provides managers a holistic picture of the employee’s performance that is not just connected to competencies but on actual margins earned on projects executed.
How do I know if I need project portfolio management?
If it’s important for you to see project profitability in real-time so you can control expenses to ensure margins are met then you need project portfolio management, AssessTEAM goes a step further by connecting project portfolio management to the productivity of the employees working on the project. Project portfolio management reports help you run your business effectively and prioritize project types that your team executes best. Analyzing project profitability in comparison to employee evaluation metrics leads to powerful business intelligence reports that show why projects do not deliver anticipated profit margins. In-depth reports on how projects are performing vs. how employees are performing in their result areas can often bring up inadequacies that can be addressed immediately to ensure margins are met.
How does AssessTEAM calculate project profitability?
How do I identify projects at risk of not meeting my margin targets?
How does AssessTEAM calculate project profitability?
AssessTEAM measures the invested employee time in comparison to the project budget, showing you profitability analysis through actionable intelligence reports created using timesheet software that compares project budget and money spent for accurate profit forecasting in real-time. With AssessTEAM project profitability analysis tools, you clearly see which projects make you money and which ones break the bank.
How do I identify projects at risk of not meeting my margin targets?
With AssessTEAM, you enter pay rates for your employees, and this information is then compared with project budgets in real-time using employee timesheets enabling you to manage project cost budgeting in terms of employee effort and fixed expenses. AssessTEAM timesheet app effectively collects and reports on employee time investment, and compares project budget to costs for profitability analysis. Actionable alerts are then delivered to project managers when projects are at risk.
